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How in-house payroll solutions help agencies meet Off-Payroll obligations: part 2
Establishing a payroll using third party software can help agencies meet their Off-Payroll obligations while maximising operational efficiencies.
�st a set monthly fee for the software and support contract. Other providers might increase their costs as th�
Category: Articles: Off-Payroll (IR35) Reforms | Tue, 10 Nov 2020

Why contractors cannot rely on unemployment benefit
Contractors will find that, even if eligible, unemployment benefit in the form of Job Seeker’s Allowance falls well short of their household bills.
�personal allowance, or who are relatively new to contracting and had a permanent job in the two years before t� �t make their own arrangements for periods between contracts, and that also includes preparing for times when� �out to pay for household outgoings if there is no contract income. Cash savings and investments that can be�
Category: Articles: Contractor Income Protection | Thu, 31 Mar 2016

Contractor banking – applying for and opening a business bank account
Once a contractor has decided which financial institution they plan to bank with, the next step is to work through the process of opening the account.
�ss Nature of the business – most banks will class contracting as ‘business services’ or ‘business consultancy’� �r – a calculation or estimate of the first year’s contract fees will normally suffice Any funding requiremen�
Category: Articles: Contractor banking | Mon, 22 Aug 2016

Save time and money with the Cashplus Business Account for contractors
Contractors can reduce their business banking burden with the Cashplus Business Account, says Cashplus financial commercial director Nick Biggam.
�establishing a business is securing new customer contracts and securing the funding, which often takes prior�
Category: Articles: Contractor banking | Thu, 04 Oct 2018

How to protect earnings if you are unwell using income protection policies
To ensure you still get paid when you are unwell you can protect your income based on your contract rate
�w company salary. Many specialist advisors in the contracting market have access to special contract rate-based� �y basis during the course of a year as you change contracts. Basing income and premiums on an annualised cont� �provide a level of cover based on your annualised contract rate, and not just on your low company salary. Ma�
Category: Articles: Contractor Income Protection | Thu, 29 Sept 2016

Why you need income protection to avoid major financial difficulties
You need income protection to ensure you and your family have an income if you becomes too ill to work.
�g cover. When choosing to leave employment and go contracting, you simply no longer have the safety net of sick� �an income when you are ‘on the bench’ in between contracts. There are two main types of income protection. L�
Category: Articles: Contractor Income Protection | Mon, 24 Oct 2016

Contractor Doctor: Can I claim payment protection working for an umbrella company?
When a contract is terminated, umbrella company contractors remain employed and can’t claim payment protection.
�h has a contract with an agency, which in turn is contracted by the end-user client to provide contractors. Co� �Dear Contractor Doctor, I have been contracting through an umbrella company and my contract was t� �not made redundant or given the sack, but that my contracts simply came to an end. What can I expect my umbre� �en contracting through an umbrella company and my contract was terminated early. Since then, I have managed�
Category: Articles: Contractor Income Protection | Tue, 27 Jun 2017

Contracting mindset tips: failure to consider the opportunity cost can be expensive
Contractors are often tempted to take contract offers below what they’re worth, but the opportunity cost can end up being more expensive than waiting.
�ailing to consider the opportunity costs of their contracting options may be making costly business decisions.� �a little short-sighted. If you have been between contracts for a few weeks and agents know this, expect offe� �s are tough. But the cost of taking a poorly paid contract can prove to have been an expensive mistake month�
Category: Articles: Contracting Mindset Tips | Fri, 23 Dec 2011

Contracting mindset tips: you can only send a sick note to yourself
Contractors who can’t work because they are ill can only send a sick note to one employer, which is their own limited company, not their client.
�for your company. If you are too ill to find new contracts, it is not the agency’s or client’s responsibilit� �k note to yourself, pay yourself sick pay and use contract law to explain to the client why you could not co�
Category: Articles: Contracting Mindset Tips | Thu, 06 Mar 2014

Contracting mindset tips: save money for sickness, holidays and time out of contract
Clients only pay contractors when they are delivering a service and, unlike employers, do not include paid sick days and holiday as part of the deal.
�expect to pay for services delivered When you go contracting, you become a service provider, just like your ga� �f for holidays or when you’re not working between contracts. Would you pay £300 to watch daytime TV? If your�
Category: Articles: Contracting Mindset Tips | Mon, 31 Oct 2016